Agricultural Resource Economics

About the Department

The Department of Agricultural Resource Economics at the Federal University of Technology, Akure (FUTA) is a leading center for economics education and research within the School of Agriculture and Agricultural Technology (SAAT). Our department emphasizes the application of economic principles and quantitative methods to solve real-world agricultural and rural development problems, preparing graduates for careers in agricultural policy, development, and business.

Agricultural Resource Economics combines economic theory, farm management, marketing principles, and policy analysis to address challenges in food production, resource allocation, and sustainable development. Our comprehensive curriculum integrates theoretical knowledge with practical application through case studies, field surveys, and engagement with farming communities. Students learn to analyze farm profitability, design efficient production systems, evaluate marketing opportunities, and contribute to evidence-based agricultural policy.

The department emphasizes data-driven analysis, economic modeling, and systems thinking to understand agricultural value chains from production through marketing. We leverage modern analytical tools including econometrics, GIS, and farm management software. Strong linkages with farmers, agribusinesses, and government agencies provide students with real-world experience and professional development opportunities.

Our graduates are recognized for their analytical skills, business acumen, and ability to solve agricultural challenges. They pursue careers with government agencies, international development organizations, agricultural enterprises, research institutions, and many establish their own agribusinesses. They contribute significantly to Nigeria's agricultural transformation and food security objectives by improving farm productivity, marketing efficiency, and policy formulation.

What We Offer

Academic Programs

B.Tech in Agricultural Resource Economics - 5-year undergraduate program
M.Tech in Agricultural Economics - Postgraduate studies
M.Phil in Agricultural Economics - Research-based Masters
Ph.D in Agricultural Economics - Doctoral research program

Specialized Areas

Farm Management and Production Economics
Agricultural Marketing and Cooperatives
Agribusiness and Entrepreneurship
Agricultural Finance and Credit
Natural Resource Economics
Agricultural Policy and Development
International Agricultural Trade
Climate Change Economics

Laboratory & Facilities

Economics Laboratory

Computers with statistical software (STATA, SPSS), econometric analysis tools, data processing

Data Management Center

GIS capabilities, satellite imagery analysis, farm management software, database systems

Business Incubation Hub

Agribusiness development support, entrepreneurship mentoring, business planning resources

Research Focus Areas

Our department conducts cutting-edge research to advance agricultural economics and rural development:

Farm Management and Production Economics

Farm profitability analysis; production cost optimization; enterprise budgeting; farm record analysis; resource allocation efficiency; productivity improvement strategies.

Agricultural Marketing and Trade

Market structure analysis; price relationships; supply chain efficiency; export competitiveness; market information systems; value chain analysis.

Agribusiness Development and Finance

Business plan development; agricultural credit access; financial management; investment analysis; agribusiness feasibility studies; entrepreneurship promotion.

Agricultural Policy and Planning

Policy evaluation; impact assessment; program planning; agricultural sector analysis; food security studies; rural development strategies.

Natural Resource Economics

Land and soil economics; water resource management; environmental valuation; sustainable agriculture; climate-smart agriculture economics.

International Agricultural Economics

Trade policy analysis; commodity markets; export promotion; international competitiveness; market integration; global value chains.

Rural Development and Cooperative Economics

Rural livelihoods; cooperative enterprise management; collective marketing; community-based development; poverty alleviation strategies.

Career Opportunities

Graduates of Agricultural Resource Economics enjoy diverse and rewarding career paths:

Government Agencies

Ministry of Agriculture, ADPs, FMARD, agricultural planning and policy roles

Agribusiness Enterprises

Farm managers, agribusiness consultants, marketing managers, business development officers

Financial Institutions

Agricultural loan officers, credit analysts, rural finance specialists, investment advisors

Research Institutions

Agricultural economists, research scientists, policy analysts, program evaluators

Academia & Teaching

University lecturers, researchers, extension educators, academic supervisors

International Organizations

FAO, World Bank, IFAD, USAID, NGOs in agricultural development projects

Consulting Firms

Agricultural consultants, market analysts, feasibility study specialists

Input Supply Companies

Feed mills, fertilizer companies, seeds companies, market development officers

Entrepreneurship

Own agribusiness, consulting services, farm management companies, market aggregation

Course Materials & Resources

Find Your Materials in the General Library

All lecture notes, past questions, textbooks, and study packs for every level of Agricultural Resource Economics now live in one place — the LEGACY General Library.

Go to General Library

Admission Requirements

UTME Requirements

Minimum UTME score of 180+
Subject combination: English, Mathematics, Biology, Chemistry
Five O'Level credits including English, Mathematics, Biology, Chemistry, and one other subject
Credits obtainable in maximum of two sittings

Direct Entry Requirements

Two A'Level passes in Agriculture/Biology and Chemistry/Mathematics
ND/HND upper credit in Agricultural-related fields
JUPEB, IJMB, or Cambridge A'Level accepted
Plus O'Level requirements as stated above